By Peter O’Brien, ABC News: Sydney’s financial system is in chaos and there’s little that can be done about it.
“You’ve got to have a plan B. You’ve got an emergency fund, you’ve got emergency savings, you need to put your savings in, you’re going to have to start taking steps to stay afloat.
But what I’ve seen over the past two weeks is a massive wake-ups call for the banks and the financial system.
In the wake of the bank crisis and the Great Recession, it’s not uncommon to see some of the most successful banks having their books closed.
That’s not just the result of a collapse in the economy, but because the banks are having to raise money through the sale of assets that weren’t viable in the first place.
So they’re doing what they’ve always done, which is selling their assets and taking the proceeds from those assets to make more money.
I think what’s happened here is the banks have been too busy selling assets to the public.
They’re doing that on purpose to keep their books open, because they know that if they close their books, the public won’t be able to borrow.
When the financial crisis hit in 2008, it was a time of panic.
The financial markets were going up and down like crazy.
The government was cutting interest rates, the world was in turmoil, and the global economy was going through its deepest recession in decades.
But at the same time, there were a lot of good banks and a lot, many of which have thrived in Australia over the years.
Today, they’re in a much different position.
There are only about two dozen banks in Australia, but the banking industry has been transformed over the last decade.
What that means is that the banks can now operate much more like traditional businesses.
This is because they’ve been able to keep a lid on their capital levels, which has made it much easier for them to invest in their business and to grow.
The result is that their businesses have been much more resilient than they were in the past.
It’s also made it easier for the industry to borrow money.
This is partly because they now have the money to borrow in the future.
As a result, it is easier for banks to lend to businesses that need it the most.
For example, in 2015, the Australian Bankers Association predicted that by 2020, the average Australian home would be worth about $100,000, but there was still no money coming in from the banks.
Now, thanks to the government’s decision to allow them to keep lending, the banks will have a chance to earn a profit for the first time in about five years.
So, the industry has a great chance to return to a profit.
If that doesn’t happen, that means the industry will be in a difficult position in 2020, when banks are forced to sell their assets in order to pay down debt.
Of course, that doesn: they’ll be left with debt that will have to be paid back in a very short period of time.
These two developments are not unrelated.
And the government isn’t doing a great job of explaining how these changes are going to benefit the banks either.
After all, it didn’t just have the banks in a panic.
It had them in a tight spot.
While the banks had to take steps to remain solvent, the government didn’t have the power to force them to do so.
Instead, the Government had to impose a series of restrictions that made it hard for them.
By 2020, we expect the Government to have the ability to restrict the banking sector’s lending to only a few institutions and restrict the number of branches and offices.
All of these restrictions have the potential to cause a major disruption in the banking system.
It will also be impossible for the Government or the banks to increase capital by issuing new loans.
We are now entering a period of financial stability that will last for many years to come.
But the impact of the government and the banks taking the action they’ve taken so far is that we’re in an entirely different place now than we were before the financial meltdown hit.
With no clear-cut plan B, it won’t get better in the long run.
Many Australians are now feeling frustrated with the way things are going, and are frustrated with our governments inability to provide them with a clear solution.
At the same.
Even though the banks aren’t in a great position to make much money from the sale and reinvestment of assets, there’s no reason for them not to continue operating and grow.
They need to remain viable in order for the banking and financial system to function effectively.
Since the banks were allowed to continue lending to businesses, there are some who are already beginning to feel that they’re getting a cut of the action.